Hero MotoCorp recently announced that it will invest USD 60 million (Rs 490 crore) in Zero Motorcycles, a California-based manufacturer to jointly produce electric motorcycles, a press release said.
Hero MotoCorp’s board of directors have approved an investment of USD 60 million in Zero Motorcycles.
The two-wheeler manufacturer said that it is finalizing the collaboration agreement with Zero Motorcycles, the US-based manufacturer of premium electric motorcycles and powertrains. In 2021, Zero Motorcycles reported a consolidated revenue of USD 60.7 million.
In line with its vision “Be the Future of Mobility”, Hero MotoCorp is addressing the electric mobility space through a range of organic and inorganic collaboration initiatives and will launch its first electric product, under its emerging mobility brand Vida, on October 7, 2022.
The company already has a stake of more than 35% in electric two-wheeler manufacturer, Ather Energy.
Discover everything about the automotive world at Times of India.Bringing along a wide variety of experiences, Prachi is an avid o...
Read MoreBringing along a wide variety of experiences, Prachi is an avid observer of what is happening around in the auto industry. She has been writing about the automotive sector for more than five years and there doesn't seem to be any indication of her stopping anytime soon.
Read Less
Start a Conversation
Post comment